Bitcoin ETF Sellers in Sweden Urged to Avoid Average Consumers

February 22, 2021

Sweden’s financial watchdog has told investment firms and banks to think twice before selling exchange-traded crypto-tracking products to average consumers.

The Financial Supervisory Authority in Stockholm said it will take action against companies that sell the risky, complex instruments to retail investors who don’t understand what they’re getting into, according to a statement on Monday.

The FSA, which also opened the door to greater regulation for the area, said such instruments are “unsuitable for most, if not all, consumers.”